Profile: Jack Henry & Associates Inc (JKHY.O)
15 Feb 2019
Jack Henry & Associates, Inc., incorporated on October 4, 1985, is a provider of information processing solutions for community banks. The Company offers a range of products and services, including processing transactions, automating business processes, and managing information financial institutions and diverse corporate entities. The Company operates in two segments, which include bank systems and services (Bank) and credit union systems and services (Credit Union). The Company provides its products and services through approximately three business brands, which include Jack Henry Banking, Symitar and ProfitStars. The Core software system consists of the integrated applications required to process deposit, loan, and general ledger transactions, and to maintain centralized customer/member information. Jack Henry Banking markets over three core software systems to banks and Symitar markets over two core software systems to credit unions. The Company's subsidiaries include Jack Henry Services, Inc., Jack Henry Software/Commlink, Inc., Symitar Systems, Inc., Check Collect, Inc. and Bayside Business Solutions, Inc.
Jack Henry Banking's three core banking platforms include SilverLake, CIF 20/20 and Core Director. Symitar's two core credit union platforms include Episys and CruiseNet. SilverLake is an IBM Power System (i/OS) based system designed for commercial-focused banks. CIF 20/20 is a parameter-driven system, which as of June 30, 2016, supported 530 banks. Core Director is a Windows-based client/server system, and as of June 30, 2016, it supported 200 banks. Episys is an IBM Power System (AIX) based system designed for credit unions. CruiseNet is a Windows-based client/server system designed for credit unions.
As of June 30, 2016, the Company identified three components of Electronic Payment Services, which included Card Services, Bill Pay and Mobile and Processing/Other. The Card Services component provides a suite of automated teller machine (ATM), debit, and credit card transaction processing and management solutions. Its card processing solutions include awards, fraud detection, ability to hot card and initiate new replacement cards, and ATM management products. Bill Pay and Mobile banking platforms are offered through its iPay and Banno product offerings. iPay offers iPay Business Bill Pay and iPay Consumer Bill Pay. Processing/Other offers enterprise payment solutions (EPS), which is a payments engine and the total payments solution. EPS offers an integrated suite of remote deposit capture, automated clearing house (ACH) and card transaction processing solutions, risk management tools, reporting capabilities, and more for financial institutions of all sizes.
Jack Henry Banking serves commercial banks and savings institutions. As of June 30, 2016, Jack Henry Banking provided integrated data processing systems to 1,100 banks. As of June 30, 2016, its banking solutions supported both in-house and outsourced operating environments with three functionally processing platforms and more than 100 integrated complementary solutions, including business intelligence and bank management, retail and business banking, Internet banking and electronic payment services, risk management and protection, and item and document imaging solutions. It supports commercial banks with information and transaction processing platforms, which provide enterprise-wide automation. Its banking solutions have functional capabilities, and the Company can re-market the hardware required by each software system. Its banking solutions can be delivered in-house or through outsourced delivery model.
As of June 30, 2016, Symitar provided data processing solutions for credit unions of all sizes, with 800 credit union customers. As of June 30, 2016, Symitar marketed two functionally processing platforms and more than 50 integrated complementary solutions, which support both in-house and outsourced operating environments, including business intelligence and credit union management, member and member business services, Internet banking and electronic payment services, risk management and protection, and item and document imaging solutions. It supports credit unions of all sizes with information and transaction processing platforms, which provide enterprise-wide automation. Its credit union solutions also have functional capabilities, and the Company can re-market the hardware required by each software system. Its credit union solutions can be delivered in-house or through outsourced delivery model.
ProfitStars is a provider of products and services to financial institutions. It offers financial performance, imaging and payments processing, information security and risk management, retail delivery, and online and mobile solutions. As of June 30, 2016, its products and services managed the performance of financial services organizations of all asset sizes and charters, and diverse corporate entities with 10,200 domestic and international customers. It is also a provider of products and services assembled through its focused diversification acquisition strategy. These solutions are compatible with a variety of information technology platforms and operating environments. These products and services can be implemented individually or as solution suites to address specific business problems or needs.
The Company competes with Fidelity National Information Services, Inc., Fiserv, Inc. and DH Corporation.
Jack Henry & Associates Inc
663 Hwy 60
PO Box 807
MONETT DE 65708-0807